$1B Dedicated to Sustainable Buildings, Socioeconomic Advancement and Other Renewal Energy Alternatives
In a global mission towards a cleaner world, Amazon has issued its first-ever sustainability bond backed by a $1 billion investment. The investment is focused on environmental issues but will fund five specific projects: sustainable buildings, renewable energy, clean transportation, affordable housing, and socioeconomic advancement and empowerment. Amazon also stated that the $1 billion investment could also fund private equity investments in zero carbon buildings and clean transportation.
We may remember the company’s Climate Pledge Fund that launched in 2019 and had over $2 billion in funding. The fund was created in a quest to showcase the company’s commitment to becoming net-zero carbon by 2040 and was soon accompanied by pledges by Verizon, Reckitt Benckiser (RB), and Infosys.
Read More: Amazon ramps up its climate pledge
Amazon’s pledge to be net-zero carbon by 2040 may be ambitious, as it is an entire decade earlier than what the Paris Agreement has committed to.
“The Climate Pledge Fund will look to invest in the visionary entrepreneurs and innovators who are building products and services to help companies reduce their carbon impact and operate more sustainably. Companies from around the world of all sizes and stages will be considered, from pre-product startups to well-established enterprises. Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations.” – Jeff Bezos, Founder/CEO of Amazon, speaking on the Climate Pledge Fund initiative.
We look forward to seeing how these plans play out and what these developments truly look like in the coming years.